Tuesday, 24 September 2013

Assalamualaikum to all readers…

Today, 25 September 2013 I want to share with you what I learn in yesterday lecture. In this week, we all are discussing about EVALUATING A COMPANY’S EXTERNAL ENVIRONMENT. What I understand in this chapter are about core concepts for external environment. The core concepts are PESTEL. PESTEL is stand for:

P	POLITICAL FACTORS
E	ECONOMIC CONDITIONS
S	SOSIOCULTURAL FORCES
T	TECHNOLOGICAL FACTORS
E	ENVIRONMENTAL FORCES
L	LEGAL AND REGULATORY FACTORS

From the lecture, basically I heard that there are 5 competitive forces in our company. The 5 competitive forces are:

-RIVALS                                      -SUPPLIERS

-SUBSTITUTES                          -NEW ENTRANCE

-BUYERS

In the end of observation, we must do a conclusion either condusive or not condusive. Besides that, competitive pressures that increase rivalry among competing sellers, competitive pressures associated with the threat of new entrants, competitive pressures from the sellers of substitute products, and many more. In conclusion, when we have a problem in our company, then there is an opportunity for another company to do the business. That’s all what I want to share with you. Thank you…JJ